Wednesday, July 31, 2013

Absolutely Amazing How Storage Can Increase So Quickly At Cushing -- CBR And New Pipelines

EIA oil atats: crude dn 400k b, but Cushing dn 1.9 mil b. Distillates down 500k, gasoline up 800k. Runs dn 1 pct point to 91.3%.

Price of oil: up 50 cents; reversing downward trend.

Trending today:
  • GDP not a good number, though it could have been worse
  • China says they will keep their economy humming 
  • everything points to continued Fed stimulus
  • market responds - now up almost 100 points

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